FSCP brands RDR 'too complex' in FSA response

In its response to the RDR Discussion Paper, the FSCP champions a three-tier market place of generic financial advisers, IFAs and sales staff, “who would be described as such”. It says the term ‘independent’ must refer only to fee-based advisers selecting products from the whole of the market, and backs Customer Agreed Remuneration (CAR) as a viable alternative to fees. In addition, the FSCP says generic advisers should be able to recommend product types upon which IFAs can give focused advice, and should be able to issue portable fact finds, which can be used by IFAs or sales staff. ...